Dubai offers one of the most dynamic entrepreneurial environments to conduct business efficiently. The flexibility of the market also provides a wider scope for foreign investments. Moreover, the supportive government policies make the establishment of companies a lot easier. One such initiative is the starting of a virtual company in Dubai. The Dubai Government along with other government bodies started this initiative which is called- Dubai Virtual Commercial City. The program focuses on giving an online platform to various global entrepreneurs and freelancers to start a virtual company from any part of the world. That means an entrepreneur can apply for Virtual Business License In Dubai even if they don’t have a residency visa. Let us see the points for the same.
How does One Qualify to Apply for Virtual Business License in Dubai?
A person should pass the following criteria to apply for virtual business license:
- The person must not be a resident of UAE.
- He/ She must be tax paying citizens of a list of eligible countries which is prepared by Dubai Virtual Commercial City.
- Virtual Companies can conduct location independent business activities in pre-defined sectors.
- A virtual company will maintain proper public registry which will also include the names of the owners. Besides the company will also follow complete transparency in providing all the required information to tax authorities.
How to Register?
Submit the application form:
- Firstly login to the Dubai Virtual Commercial City website and fill in the required information in the application form
- Secondly, submit the application form along with the trade license. Also, specify the chosen business activity.
Submit all the required documents:
All the following documents should be uploaded for verification:
- Passport copy and a recent photo with white background.
- Proof of Residence
- Proof of citizen tax resident of approved countries.
Application tracking and background check:
An entrepreneur can keep a track on the application form by visiting the website of Dubai Virtual Commercial City. However it takes almost a month to process the application form as the government conducts background checks on the company. Once the process is completed, the owner will receive a confirmation mail.
Confirming identity at VFS Global:
Verification is conducted by the official service provider of Dubai Virtual Commercial City i.e. VFS Global. One can book online for a visit for the identification and passport verification process.
Payment and your virtual company license:
Once the validation process is done one can pay the fees and procure the license. Moreover you can also pay the fees through VCC’s online website.
Thus, it is a good option for investors who want to start a company in Dubai without any resident visa. Additionally, it also gets access to DubaiStore.com, which is an online platform for all other companies registered under Dubai Economy. The DVCC is an initiative formed under:
- Dubai Economy
- Dubai International Financial Center (DIFC)
- General Directorate of Residency and Foreign Affairs (GDRFA)
- Smart Dubai
- Supreme Legislation Committee